Connor Clark & Lunn Investment Management Ltd. Has $5.70 Million Position in Toast, Inc. (NYSE:TOST)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Toast, Inc. (NYSE:TOST - Free Report) by 44.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,382 shares of the company's stock after purchasing an additional 48,282 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Toast were worth $5,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TOST. Blue Trust Inc. raised its holdings in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank bought a new position in shares of Toast in the fourth quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Toast during the 4th quarter valued at $34,000. SBI Securities Co. Ltd. bought a new stake in shares of Toast during the 4th quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Toast in the 4th quarter worth $40,000. Institutional investors own 82.91% of the company's stock.

Toast Stock Up 3.8 %

Shares of NYSE:TOST traded up $1.30 on Wednesday, reaching $35.09. The company had a trading volume of 5,943,910 shares, compared to its average volume of 6,667,486. The stock has a market capitalization of $17.33 billion, a P/E ratio of -3,505.39, a P/E/G ratio of 2.16 and a beta of 1.99. The stock has a 50-day moving average price of $37.90 and a 200 day moving average price of $34.91. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12.

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Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. On average, sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company's stock, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher P. Comparato sold 145,000 shares of the firm's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now owns 182,451 shares in the company, valued at approximately $6,575,534.04. The trade was a 44.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,641 shares of company stock valued at $8,937,776. Company insiders own 13.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TOST. UBS Group increased their price target on Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on shares of Toast from $25.00 to $30.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Robert W. Baird boosted their target price on shares of Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. The Goldman Sachs Group set a $40.00 target price on Toast and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Toast in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $40.48.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.